Anyone want to join me? Awaiting Mortgage decision...

~shoozy~

Chased the broker for an update as heard nothing since last week (29/08) valuation is booked for tomorrow so fingers crossed it all comes back ok and an offer will follow shortly.

CornwallFTB

CornwallFTB wrote: »

Hi all,

FTB's here, long time lurker so thought I'd post our timeline here. We going through with the PO via L&C Mortgages.

Offer Accepted on property, solicitors instructed (Had outline DIP from L&C, but waited until we found the right property before committing to a specific lender)
15th Aug - Submitted DIP with PO- Hard Search done & referred
20th Aug - DIP Approved & Application Submitted
21st Aug - Soft Search done (seems an odd way round!)
22nd Aug - Docs Submitted - Bank Statements, Payslips etc.
30th Aug - Further docs submitted - 3 years of P60's for me.

Waiting for the valuation to be booked in & fingers crossed we'll get the mortgage through.
All the usual solicitors work has been going on in the background; I'm sure the end of summer hols/bank holiday weekend has caused a few delays so its not been as quick as the PO make out on their website!

So small update on progress - hopefully

4th Sept - Chased broker for an update as getting chased by agent - they've not heard anything about booking valuation etc.
5th Sept - PO requested more payslips and raised some queries about my 2017/2018 P60 being higher then my declared income (surely better then it being lower!) Easily explained due to bonuses and a change in salary package.

Fingers crossed that will satisfy them - glad I made sure to keep all those old payslips etc now!

hrbed

first time buyer!


27th July - AIP given
31st July - full application sent
14th August - request for more information
20th August - told application was approved "subject to valuation"
28th August - valuation carried out
Friday 31st August - conformation that bank have received valuation and final admin checks done
Tuesday 4th Sept - we chased the bank and were told the application was still with the underwriters doing final checks "with a view to offer"


It's now been 4 working days since the valuation was sent to the bank and we've still not had conformation of offer, and I'm reluctant to take "with a view to offer" as concrete success as anything could still happen!!


Anyone else had a long wait once the valuation was complete? (all our financial checks were complete prior to valuation - I know some banks book valuation prior to doing all the underwriting)

LucasH

hrbed wrote: »

first time buyer!


27th July - AIP given
31st July - full application sent
14th August - request for more information
20th August - told application was approved "subject to valuation"
28th August - valuation carried out
Friday 31st August - conformation that bank have received valuation and final admin checks done
Tuesday 4th Sept - we chased the bank and were told the application was still with the underwriters doing final checks "with a view to offer"


It's now been 4 working days since the valuation was sent to the bank and we've still not had conformation of offer, and I'm reluctant to take "with a view to offer" as concrete success as anything could still happen!!


Anyone else had a long wait once the valuation was complete? (all our financial checks were complete prior to valuation - I know some banks book valuation prior to doing all the underwriting)

If you dont mind me asking, what additional information do they ask for?

LucasH

First time buyer!

05-09-18 - DIP/AIP given.
WB 10-09-18 - We look at houses with the view of reserving 1 (new build).

hrbed

LucasH wrote: »

If you dont mind me asking, what additional information do they ask for?

Additional information asked for

• My partner used to have his car on PCP which had been paid off in full 2 months before, so they asked for the last statement and letter from the company to prove it had been paid.
• We had to send 3 months of account statements for our joint account as we had only send statements from our personal accounts with the application
• I had to write a letter to explain why I had some late payments 18 months ago

LucasH

hrbed wrote: »

Additional information asked for

• My partner used to have his car on PCP which had been paid off in full 2 months before, so they asked for the last statement and letter from the company to prove it had been paid.
• We had to send 3 months of account statements for our joint account as we had only send statements from our personal accounts with the application
• I had to write a letter to explain why I had some late payments 18 months ago

Thank you, really appreciate that.

AASandwich

Yes, we are in the same boat. Valuation on Thu 30th. Report with lender (Metro) this Mon. Should have been offer sent sent Thu. Nothing as at today. No further info requested and valuation report was spot on. Infuriating and frustrating. As well as stressful....

Sanne

Valuation day today - had some search results in the post already, solicitor has been moving quickly (7 working days since offer accepted), I’ll be much more relaxed when we get the mortgage offer!

Sanne

Valuation received today -

30/09 full mortgage application submitted (Nationwide - already had AIP)
04/09 Text confirming valuation booked
07/09 valuation
10/09 Text confirming valuation received